(Oslo, September 11th 2007) Aladdin Oil & Gas Company ASA has initiated the work over of the second of in total seven wells on the Bogdanovskaya licence in Orenburg. An additional rig will now be leased to increase the work over capacity going forward.

The work over of the second well, well # 39, is expected to be completed within the 4 -6 next weeks. Well # 39 has in accordance with previous logs three oil bearing zones. Furthermore, the company has entered into an agreement for one additional rig to increase the work over capacity. This rig is expected to be available on the third well within the end of September.

- We are now escalating the work over capacity to increase the production volume faster, says Espen Glende, CEO in Aladdin Oil & Gas Company ASA in a comment.

For further information, please contact:
CEO, Espen Glende, Aladdin Oil & Gas Company ASA, Phone: (+47) 906 05 434

Aladdin Oil & Gas Company ASA is an exploration and production company based in Norway, head office is in Olso and the shares are traded on the OTC list, ticker AOGC. The company owns the Russian oil company OOO Geotechnologia which holds two licenses in the Timan-Pechora province in Northwest Russia, as well as the company ZAO Orneftegaz in the Orenburg area. The company has around 80 employees and intends to be traded on Oslo Axess during 2007. The company’s largest shareholders are Paal Hveem, Vollvik Invest AS and Arild Nilsen.